Application-specific Integrated Circuit Market (Design Type - Full Custom, Semi-custom, and Programmable; Application - IT & Telecommunication, Consumer Electronics, Automotive, Industrial, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

A recent report published by Infinium Global Research on application-specific integrated circuit market provides in-depth analysis of segments and sub-segments in the global as well as regional application-specific integrated circuit market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional application-specific integrated circuit market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global application-specific integrated circuit market. According to the report, the global application-specific integrated circuit market is projected to grow at a CAGR of 9.8% over the forecast period of 2020-2026.

Market Insight

Application-specific integrated circuit (ASIC) is the tailored-made integrated circuits (ICs) intended for providing particular requirements only. The application of ASIC is mainly recommended for the high volume of production, hence it is massively used across industries such as manufacturing, automotive, industrial among others. The ASIC help in reducing the chip size as it is capable of performing manifold functions on a single chip. Furthermore, the chips provide high speed and efficiency that are required for today's advanced technologies. This is likely to increase the demand for ASIC. The application of ASIC can be mostly observed in consumer electronics. It supports high bandwidth and long battery life that helps the electronic equipment to run professionally for a longer time. Moreover, the increasing demand for smartphones, smartwatches, smart machines, and more are likely to propel the ASIC market growth. Likewise, it is witnessing immense applications in technologies, for example, IoT devices, cloud computing, data analytics, blockchain among others, where fast data transfer speed is vital.

The current COVID-19 epidemic that has been devastating numerous countries across the world has undesirably affected various industries. In addition, the current concern over the spread of novel coronavirus is also projected to have a negative impact on the application-specific integrated circuit market. The manufacturing facilities of the semiconductor industry have temporarily shut, leading to a momentous slowdown in production. The COVID-19 outburst could result in intermission across the ecosystem with numerous supply chain contributors shifting their production facilities outside China, consequently reducing their over-dependence on China. Likewise, the lockdowns enforced by the numerous governments in the wake of the novel coronavirus contagion have not only affected manufacturing but also dragged consumer demand for semiconductor devices. Furthermore, the COVID-19 epidemic which recently spread across Asia Pacific countries, particularly China, has highly impacted the growth of the market.

The major factor driving the market growth is the superior benefits of ASIC over general ICs. The biggest advantage is that the complete design of a given electronic application is made into a single integrated circuit, thus reducing the necessity for additional components. Other major advantages comprise high speed, smaller size, and low power consumption. With the continuous advancement in the segment, ASICs have anticipated emerging highly promising for the consumer electronics and telecommunication segments. On the other hand, the market penetration is hampered owing to the limitations such as the high cost of manufacturing (in small volumes), inflexibility, and increased time-to-market. Because of high manufacturing and designing cost, these are predominantly preferred for the products having high production volumes. In contrast, constant reduction in prices of sensors due to the introduction of more competitive technologies and higher associated costs are impeding the market growth. However, ongoing technological advancements in the field of integrated circuits are expected to create numerous opportunities in the application-specific integration market over the projection period.

Among the geographies, the Asia Pacific region is expected to hold the largest share in the global application-specific integrated circuit market. Rapidly growing demand for energy-efficient devices coupled with the rising penetration of smartphones in the region has boosted the market growth in the Asia Pacific region. Furthermore, the development in technological transformation in consumer electronics and automotive industries in countries such as India, China, South Korea, and Japan is expected to boost the market for application-specific integrated circuits in the region.

Segment Covered

The report on global application-specific integrated circuit market covers segments such as design type, and application. On the basis of design type, the sub-markets include full custom, semi-custom, and programmable. On the basis of application, the sub-markets include it & telecommunication, consumer electronics, automotive, industrial, and others.

Companies Profiled:

The report provides profiles of the companies in the market such as Texas Instruments Inc., STMicroelectronics N.V., Infineon Technologies AG, Qualcomm, Inc., ON Semiconductor, Linear Technology Corporation, Maxim Integrated Products Inc., Analog Devices, Renesas Electronics, and Intel Corporation.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of application-specific integrated circuit market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.